The cost of reversing the increase in state pension ages could top £200bn, SIPP and platform provider AJ Bell has warned as the result of a High Court case is awaited.

The High Court has sentenced a man involved in four Unauthorised Collective Investment Schemes (UCIS) which lost investors £15m to six months in prison after he diverted assets which could have been used to repay investors.

The FCA has today confirmed the start of High Court proceedings against two executives and their firms.

Two linked companies that claimed to be able to help investment clients recover funds lost when investing in alternative investments have been ordered into liquidation by the High Court.